Financial Technology
Fintech investments in APAC drop 19% to $3.7b in H1
Fintech investments in APAC drop 19% to $3.7b in H1
All regions globally recorded a decline in fintech investments.
Loans extended by Philippine banks up 10.1% in June
Consumer lending expanded on the back of credit card loans.
Standard Chartered invests in financial tech platform United Fintech
The bank has been granted board observer rights and a rotational board seat.
HK virtual banks' record 2.2 million depositors by end-2023
Hong Kong's eight licensed virtual banks experienced modest growth over the past three years.
WeChat Pay Malaysia ceases e-wallet services
Payment services will cease on 1 September 2024.
MUFG invests $393m in PH superapp GCash’s parent company
Globe Fintech Innovations operates GCash and Fuse Lending.
Hong Kong process with plan to regulate stablecoin issuers
It has published a consultation paper based on 108 submissions.
Digital investment firm Arta Finance clinches approval to launch in SG
The firm offers access to alternative assets and credit channels.
China’s XTransfer gains in-principle approval for Singapore MPI license
XTransfer plans to launch e-business wallet services in the Lion City.
Fave Singapore clinches in-principle approval in Singapore
It can now offer account issuance and domestic money transfer services in SG.
Alipay+ payments now available in European taxi app FREENOW
Tourists from China, Hong Kong, and Malaysia can use their local e-wallet to pay.
HSBC, Visa team up to develop multi-currency app Zing
Users can hold funds in 10 different currencies and transact in 200 countries.
Ant Group and Mastercard extend payments program to Chengdu, Chongqing
Tourist spending using Ant Group’s digital payments rose 13-fold in the two cities.
Ant International acquires Dutch payment service provider MultiSafepay
Ant will integrate MultiSafepay into its subsidiary Antom.
Fintech Airwallex records 84% revenue growth
Its Australia and New Zealand business saw revenue grow by 93%.
Thai fintech unicorn Ascend Money bags $195m investment
MUFG Bank is the lead investor.
Fintech venture investments in Asia to hit $548b in 2028
In 2023, Asian fintechs have clinched $369b in investments.
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